csx 4Q 07

The document summarizes CSX Corporation's fourth quarter 2007 earnings conference call. The summary includes: 1) CSX reported strong earnings growth and record results for surface transportation despite higher fuel costs. Safety and service metrics were at all-time best levels. 2) Operations improvements including productivity gains helped lower the operating ratio. Revenues increased 8% to a record $2.6 billion due to yield management and improved service. 3) Comparable operating income increased 26% to $601 million, driven by revenue strength, cost control, and lower reserve requirements, which overcame the fuel cost impact. Expenses were up 3% overall but down 2% excluding fuel.